On Thursday 2 June 2016, Mark Boughey and Matthew Haw of RSM Restructuring Advisory LLP were appointed Joint Administrators of Cooper Callas Limited, the UK’s largest independent bathroom and kitchen distributor.
Originally established in 1875, Cooper Callas, based in Bicester Park, is an independently owned distributor that supplies a range of 27,000 kitchen and bathroom products to around 1,200 independent retailers across Europe.
Following appointment, 41 of the company’s remaining workforce of 68 people have been made redundant and the Administrators have been assisting them with their claims to the Redundancy Payments Office.
Mark Boughey, RSM partner and one of the Joint Administrators said:
'Earlier this year Cooper Callas suffered the loss of a key supplier that accounted for around 25 per cent of its turnover. Despite the efforts of the directors and other key stakeholders, it was not possible to secure the necessary additional funding and investment that was required to meet the resulting trade losses and shortfalls in working capital.
‘Regrettably, a number of redundancies have been necessary, and we are working closely with the Managing Director and the remaining workforce to oversee an orderly wind-down of the business.’
Philip Carr, Managing Director of Cooper Callas commented:
‘The significant loss in sales was too great a gap to bridge in the limited time available, with every effort being made to secure the future of the company and its workforce. During 2015 the company returned to profitability after several years of losses, underlining the hard work and dedication of all members of staff.’